The Mahatari Shakti Loan Yojana, launched by the BJP-led Chhattisgarh government, aims to empower women beneficiaries of the Mahatari Vandan Yojana economically. Under this scheme, women with accounts in the State Rural Bank can avail of loans ranging from Rs. 10,000 to Rs. 25,000 to start and operate self-employment ventures. Finance Minister OP Chaudhary emphasized the scheme’s role in uplifting women’s economic status. Out of the 70 lakh beneficiaries of the Mahatari Vandan Yojana, 17.5 lakh women are eligible for the loan.
This initiative specifically targets women already receiving Rs. 1,000 monthly assistance under the Mahatari Vandan Yojana, enabling them to achieve financial independence and entrepreneurial success. The scheme was inaugurated in collaboration with State Rural Bank chief Vinod Arora, marking a key step toward enhancing women’s participation in the state’s economy.
What is Mahtari Shakti Loan Yojana?
The Mahatari Shakti Loan Yojana is an initiative launched by the BJP-led Chhattisgarh government to promote economic empowerment among women. This scheme allows beneficiaries of the Mahatari Vandan Yojana, who receive Rs. 1,000 monthly financial assistance, to access loans for starting and managing self-employment ventures. Eligible women must have accounts in the State Rural Bank to avail of loans ranging from Rs. 10,000 to Rs. 25,000. Of the 70 lakh beneficiaries under the Mahatari Vandan Yojana, 17.5 lakh women with accounts in the State Rural Bank qualify for this loan facility.
The scheme allows women to achieve financial independence, enhance their entrepreneurial capabilities, and contribute to the state’s economy. Launched by Finance Minister OP Chaudhary in collaboration with State Rural Bank chief Vinod Arora, the initiative underscores the government’s commitment to uplifting women.
Also Read: Mahtari Vandana Yojana 9th Installment
The objective of the Mahtari Shakti Loan Yojana
- To economically empower women in Chhattisgarh.
- To support self-employment ventures for women.
- To help beneficiaries of the Mahatari Vandan Yojana achieve financial independence.
- To strengthen women’s participation in the state’s economic growth.
Helpful Summary of Mahtari Shakti Loan Yojana
| Name of the scheme | Mahtari Shakti Loan Yojana |
| Launched By | BJP-led Chhattisgarh Government |
| Target Beneficiaries | Women beneficiaries of Mahatari Vandan Yojana |
| Eligibility Criteria | Must have an account in the State Rural Bank |
| Loan Amount | Rs. 10,000 to Rs. 25,000 |
| Purpose | To start and operate self-employment ventures |
| Beneficiaries Eligible | 17.5 lakh women out of 70 lakh Mahatari Vandan Yojana beneficiaries |
| Inaugurated By | Finance Minister OP Chaudhary and State Rural Bank Chief Vinod Arora |
| Objective | To economically empower women and promote financial independence |
| Mode of Application | To be released soon |
| Official Website | To be released soon |
Eligibility Criteria
- Must be a beneficiary of the Mahatari Vandan Yojana.
- Should receive Rs. 1,000 monthly financial assistance under the Mahatari Vandan Yojana.
- Must have a bank account in the State Rural Bank.
- Only women beneficiaries are eligible.
- Loan amount ranges between Rs. 10,000 and Rs. 25,000.
Benefits of Mahtari Shakti Loan Yojana
- Provides financial support for women to start self-employment ventures.
- Offers loans ranging from Rs. 10,000 to Rs. 25,000.
- Helps women achieve financial independence.
- Encourages entrepreneurship among women in rural areas.
- Benefits 17.5 lakh eligible women with accounts in the State Rural Bank.
- Strengthens the economic participation of women in the state.
- Promotes self-reliance and economic growth for women beneficiaries.
Loan Amount
- For eligible women, the loan amount under the Mahatari Shakti Loan Yojana ranges from Rs. 10,000 to Rs. 25,000.
Required Documents
- Aadhaar Card
- Address Proof (e.g., electricity bill)
- Recommendation Letter from Village Sarpanch
Selection of Beneficiary
- Every beneficiary will repay the loan in 48 monthly installments over four years.
- No fixed EMI amount is required; it will vary each month.
- Interest on the loan will be calculated on the outstanding balance after each repayment.
- A minimum interest rate of 7% will be charged on the loan amount.
- Beneficiaries must have insurance of Rs. 2,00,000 under PM Suraksha Bima Yojana, with a monthly premium of Rs. 20.
- Beneficiaries will continue to receive Rs. 1,000 monthly under the Mahatari Vandan Yojana.
- Loans will be sanctioned by Chhattisgarh Rajya Gramin Bank (CRGB), sponsored by State Bank of India.
Mahtari Shakti Loan Yojana Apply Online 2024-25
Step 1: Ensure you have an account in the State Rural Bank.
Step 2: Collect the application form from the respective bank branch.
Step 3: Submit all necessary documents along with the application form.
Step 4: Complete the application process by submitting the form and documents to the bank.
Step 5: After verifying eligibility, the loan amount will be credited to your bank account.
FAQs
Who is eligible for the Mahatari Shakti Loan Yojana?
Women who are beneficiaries of the Mahatari Vandan Yojana and have an account with the State Rural Bank are eligible.
What is the loan amount under this scheme?
The loan amount ranges from Rs. 10,000 to Rs. 25,000.
How will the loan be repaid?
The loan must be repaid in 48 monthly installments over four years, with no fixed EMI amount.
What is the interest rate on the loan?
A minimum interest rate of 7% will be charged on the loan amount, calculated on the outstanding balance after each repayment.
Which bank will provide the loan?
The loan will be provided by Chhattisgarh Rajya Gramin Bank (CRGB), sponsored by the State Bank of India.